3 Growth Stocks to Buy on the Dip
Don't wait until they recover.
Overview
The best time to buy a stock may be when it is experiencing a temporary pullback from which it will likely bounce back, rather than during a strong bull run with little -- if any -- additional upside. Thankfully, even as broader equities continue to perform well, there are plenty of companies in the first category that might be worth investors' attention. Let's consider three examples: SoFi Technologies (NASDAQ: SOFI), Robinhood Markets (NASDAQ: HOOD), and TransMedics Group (NASDAQ: TMDX). Here is why these three stocks are worth investing in after lagging the market this year.
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Shares of SoFi Technologies have declined 34% this year. The company was hit by a short-seller report that sent its stock price sinking, although it has categorically denied the allegations made against it. Elsewhere, SoFi's first-quarter update was disappointing, as the market was not satisfied with the company's guidance. Even so, SoFi's actual financial results were strong. The company's total revenue jumped 43% year over year to $1.1 billion, a record quarterly net revenue for the fintech specialist. Also, SoFi's adjusted earnings per share (EPS) doubled to $0.12.
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Originally published at www.fool.com.